Polynomial is thrilled to announce the launch of its new trading campaign, "Trading Season." It is scheduled to begin on Tuesday, July 4th, at 10:00 UTC and will run for a duration of 2 months.
Traders who participate in the Trading Season can level up, earn exclusive NFTs, and compete in exclusive trading competitions. The trading season runs from July 4 to September 4, 2023. Traders can level up by trading on Polynomial Trade. Each level unlocks a new exclusive NFT, which can be used to enter exclusive trading competitions. The trading competitions offer prizes of $OP tokens.
In addition, traders who reach a certain level will be eligible to receive a multiplier on their $OP rewards. The multiplier can be up to 30%, and the exact amount will depend on the level reached.
Here are the details of the trading season:
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The Trading Season runs from July 4 to September 4, 2023.
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Traders can level up by trading on Polynomial Trade.
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Each level unlocks a new exclusive NFT, which can be used to enter exclusive trading competitions.
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The trading competitions offer prizes of $OP tokens.
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Traders who reach a certain level will be eligible to receive a multiplier on their $OP rewards.
Here are the steps on how to participate in the trading season:
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Create an account on Polynomial Trade.
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Start trading on Polynomial Trade.
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Level up by trading more.
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Earn exclusive NFTs and compete in exclusive trading competitions.
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Receive a multiplier on your $OP rewards.
The Trading Season NFTs are exclusive to this campaign and can not be claimed after. The claiming process will be on Galxe.
Competition Structure
The season will feature different levels (tiers) that are determined by XP. We have carefully crafted a 7-level tier system, each requiring specific XP criteria for access. This system enables us to provide users with a range of benefits and incentives based on their level.
Level 1 - Beginner:
Criteria: 100 - 1,000 XP
Benefits: Level 1 NFT
Level 2 - Intermediate:
Criteria: 1,000 - 10,000 XP
Benefits: Level 2 NFT.
Level 3 - Advanced:
Criteria: 10,000 - 100,000 XP
Benefits: Level 3 NFT.
Level 4 - Expert:
Criteria: 100,000 - 1,000,000 XP
Benefits: Level 4 NFT.
OP Incentives: 10% boost on SNX $OP Rewards
Competitions: for 2,000 $OP once every month
Level 5 - Professional:
Criteria: 1,000,000 - 10,000,000 XP
Benefits: Level 5 NFT.
OP Incentives: 15% boost on SNX $OP Rewards
Competitions: for 5,000 $OP once every month
Level 6 - Elite:
Criteria: 10,000,000 - 100,000,000 XP
Benefits: Level 6 NFT.
OP Incentives: 20% boots on SNX $OP Rewards
Competitions: for 10,000 $OP once every month
Level 7 - Legend:
Criteria: more than 100,000,000 XP
Benefits: Level 7 NFT, Separate discord group with the team.
OP Incentives: 30% boost on SNX $OP Rewards
Competitions: for 15,000 $OP once every month
The OP incentives for all levels are capped at 50,000 tokens per week. However, the competition prize is excluded from this cap. Additionally, 300,000 OP tokens from Synthetix will be added to the total rewards pool, giving users even more opportunities to earn OP tokens.
Which makes 350k $OP per week for the users who trade on Polynomial. LFG.
The weekly epoch ends every Tuesday at 10 PM UTC.
How do users level up?
Users level up and earn experience points (XP) based on their trading volume and profit:
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$1 standard volume ⇒ 1 XP
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$1 advanced order volume ⇒ 2 XP
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$1 Profit ⇒ 2 XP (on profit alone)
And based on other relevant factors or events (further info will be shared soon):
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Daily activity
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Side Competition
Trading Competitions
Every week, there will be a competition for a specific level, starting from Level 4. This progression-based system enables participants to earn XP continuously, unlock higher levels, and participate in consecutive competitions.
Polynomial has decided to allocate monthly rewards for each competition:
Level 4: 2,000 $OP
Level 5: 5,000 $OP
Level 6: 10,000 $OP
Level 7: 15,000 $OP
Levels 4, 5, 6 & 7 competition will reward users based on their realized PnL (Profit and Loss).
The competition duration will be less than seven days, so remember to close your position in time. Before each trading competition, a snapshot is taken, and users within the level of the trading competition are eligible to participate in that specific competition.
FAQ
How do I enter the Competition?
Everyone* can participate as long as you make at least one trade on Polynomial Trade during the competition. The rankings and participants will be displayed on a dedicated page.
How do I claim my prize?
Prizes and rebates will be sent directly to your smart wallet account after review within a week after the conclusion of each trading competition.
How are traders ranked during competitions?
In competitions, all traders will be ranked based on their PNL (Profit and Loss).
What is my level?
Your level is displayed on your personal page and it depends on the XP accumulated
Can I deposit and withdraw from my account during the season?
Yes, everyone has full control of their assets and can manage their position.
Conclusion
Polynomial aims to raise awareness about decentralized trading, making it accessible and user-friendly for all. With a focus on simplicity and a user-friendly interface, Polynomial created the Trading Season to engage its community. Join the upcoming weekly trading competitions for a chance to showcase your skills, earn rewards, and make your mark in the trading world. Stay tuned for updates!
*Users located in prohibited countries are not permitted to engage in trading activities.
- Polynomial Team
About Polynomial
Polynomial Trade is a decentralised derivative trading exchange powered by the Synthetix protocol on Optimism. The exchange allows leverage trading up to 25x with a faster and smoother UI and lower fees than other derivative exchanges.